3,710 properties are currently available or in contract in Portland Oregon today. With much talk lately of a slow down in real estate after a very slow December it might lead you to believe that the cracks are starting to show in the real estate market.
I took a look at how many bank owned (REO) and short sale properties there currently are in the Portland, Oregon either on the market or in contract and the number will surprise you.
Currently there are 50 bank owned properties are available or pending, and that’s only 0.13% of the current real estate market
Currently there are 34 short sale properties are available or pending, and that’s only 0.09%
To give this context, at the bottom of the Portland real estate market from June through December 2011, Bank owned properties accounted for 877 of the 5,561 sales, or 16% of all sales in that period.
These very low distressed property numbers point to a positive 2019 in the Portland, Oregon real estate market.
Nick Krautter is the author of The Golden Handoff: How to Buy and Sell a Real Estate Agent’s Business which debuted number one on Amazon for mergers and acquisitions. His goal is to teach real estate agents how to grow their business and to help them later retire and benefit from their years of hard work. For the last decade Nick has been a Realtor in Portland, Oregon, where he leads a team and frequently serves as a real estate expert for the media.